Thrivent Financial For Lutherans raised its position in shares of Rowan Companies PLC (NYSE:RDC) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,089,050 shares of the oil and gas company’s stock after purchasing an additional 74,220 shares during the period. Thrivent Financial For Lutherans owned approximately 1.65% of Rowan Companies PLC worth $21,392,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RDC. LS Investment Advisors LLC raised its position in Rowan Companies PLC by 24.8% during the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 2,050 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Rowan Companies PLC during the second quarter valued at approximately $138,000. Prescott Group Capital Management L.L.C. acquired a new position in Rowan Companies PLC during the second quarter valued at approximately $143,000. Neuberger Berman Group LLC raised its position in Rowan Companies PLC by 0.5% during the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 55 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Rowan Companies PLC during the second quarter valued at approximately $161,000.
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RDC has been the subject of several research analyst reports. ValuEngine upgraded shares of Rowan Companies PLC from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. Clarkson Capital upgraded shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, May 30th. Jefferies Group LLC set a $15.00 price objective on shares of Rowan Companies PLC and gave the company a “hold” rating in a research report on Tuesday, June 6th. BidaskClub upgraded shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Seaport Global Securities downgraded shares of Rowan Companies PLC from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $12.00 to $10.00 in a research report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.50.
Shares of Rowan Companies PLC (RDC) traded up 0.572% during mid-day trading on Tuesday, hitting $11.425. 280,832 shares of the company traded hands. The firm’s 50 day moving average price is $10.23 and its 200-day moving average price is $12.45. The stock’s market capitalization is $1.44 billion. Rowan Companies PLC has a 1-year low of $9.02 and a 1-year high of $21.68.
Rowan Companies PLC (NYSE:RDC) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The company had revenue of $320.20 million for the quarter, compared to analysts’ expectations of $296.87 million. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm’s revenue was down 47.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. On average, equities research analysts forecast that Rowan Companies PLC will post ($0.95) EPS for the current year.
About Rowan Companies PLC
Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
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